If a couple were to invest together, their ownership was over the 20-25%, so they decided that they would come in individually, coming in below the ownership limit.

if you have great credit, solid assets and great income, sure,,, it would be based purely on your financial situation and wouldn't be secured by any properties.Banks prefer to have something to secure a loan with, so an open line of credit will be limited by your credit and ability to pay.

Please don't take it the wrong way, it's really constructive criticism: it sounds like you really do not know enough about this type of deal to take a stab at it, regardless of if it's a good deal or not.There's a good and bad way to invest: top down and bottom up.

From a gray area standpoint, it's as bad as going 5 over the speed limit, or as bad as accepting that burned DVD copy from your buddy.

In any particular year for any particular property your actual results can be somewhat better (taxes and insurances are the bare minimum) or can be much worse (no upper limit.)

We did this so that if there is an accident or something happens at our rental, our liability is limited. ...I encourage you to seek out a competent attorney because if you and/or your wife manage that property, you don't have the protection you think you have and you need to make sure you carry adequate liability insurance.

Limited liability is the most critical one.

The Sky's the Limit - Passion and Property in Manhattan - Steven Gaines

In order to be an eligible borrower under FHA you need to be Legal Age (18 or older) or married.There are also maximum allowable loan limits that are set by individual counties.

Cheers, Eric There's lots to learn and limited time to study, but the wheels are turning.